Hi Allee,I hope you don't live to regret topping up. Always good...

Hi Allee,

I hope you don't live to regret topping up.

Always good to exit on a profit after a jump up. I also hope you don't live to regret jumping ship too early. That can be a real bummer.

I had an excellent experience investing in a Computer Aided Software developer who specialised in software for folks who designed printed circuits.

It had fallen from $1.20 to 40c when I bought in.

Two years latter it dropped to 9c and before buying another million to average down I asked some questions about things relating to the balance sheet that troubled me and got unsatisfactory answers. so sat tight and lived to regret it big time.

A year later they did a 10x jump up to 90c and I sold enough to get on free carry 8months later they hit $1.50 and I sold two thirds of what I had left and 5 months later they hit $2.50 and I thought that that was absolutely crazy and sold the lot.

How wrong can you be. ten years on they are at $65.20.

Codelco:

Not sure the point you are trying to make?

They appear to be a disaster with really bad operating conditions and incompetent management.

MAINTENANCE WOES

Five of the workers Reuters spoke to said many of the problems stemmed from when management from Codelco's El Teniente mine (who were bought in to manage the new UG operation ) ...... failed to adjust for Chuquicamata's geology ...... A high-level executive.... said the management team had made mistakes due to overconfidence in their experience of underground mining at El Teniente "which had much harder rock than the sandy conditions that were being encountered." Assuming too much will always lead to tears.

Hard to compare that with what HGO have achieved and their knowledge of the geology and proven ability to develop the underground without incident.

We would be really laughing if the board and bitten the bullet back in March 21 and hedged at US $4.50 /lb and tied in the debt that was on offer with the big uncontrollable copper price risk eliminated. Putting the cart before the horse was not a decision a good board would make.

Investing is all in the timing.

After you exit don't fall into the trap of looking over your shoulder.